Goldman Sachs invests $21m in CambridgeSoft

July 22, 2008

Investment banking company Goldman Sachs & Co. invested $21 million in CambridgeSoft Corp., a Cambridge company that provides software and consulting services to the life sciences and chemical industries, CambridgeSoft said. As part of the deal, Goldman Sachs vice president Raheel Zia will join CambridgeSoft's board. (Todd Wallack)

Brian Lamy, a former vice president and tax director for Bruker Corp.'s BioSpin unit, sued the Billerica life sciences company in federal court last week, saying he was wrongfully fired after complaining about accounting practices. Lamy said he voiced his concerns to his supervisor and a company attorney in June 2007 and was fired a month later because of "poor attendance," according to the suit. Lamy first filed his complaint with the Department of Labor last October, but turned to federal court after the department failed to issue a ruling within 180 days. (Todd Wallack)

A unit of Waltham-based defense contractor Raytheon Co. received a $29.4 million contract from the Navy to provide a new capability for a naval air and missile defense system, the Pentagon said. The Cooperative Engagement Capability is a sensor-based system that uses high-quality tracking data and distributes it to all other participants to create a common air defense tactical display. (AP)

Apple Inc. said chief executive Steve Jobs has no plans to leave the company and that his health is "a private matter." "Steve loves Apple," finance chief Peter Oppenheimer said when asked about Jobs's health on a conference call. "He serves as CEO at the pleasure of the board. He has no plans to leave Apple. Steve's health is a private matter." Since Jobs, 53, took the stage in San Francisco last month to introduce the newest iPhone, speculation among attendees and bloggers has run rampant that he may be sick again after successful surgery for a form of pancreatic cancer in August 2004. (Bloomberg)

A jalapeno pepper, grown on a farm in Mexico and found at a Texas distribution center, was tainted with the salmonella strain that has sickened more than 1,200 people, the Food and Drug Administration said. The agency is urging Americans not to eat fresh jalapenos after the contaminated pepper was found at the Agricola Zaragosa distribution center in McAllen, Texas, said David Acheson, the FDA's assistant commissioner for foods. Officials don't know if the contamination occurred at the farm, the center, or elsewhere. Agency officials are now visiting the farm in Mexico and searching distribution records to determine if any other produce was tainted. (Bloomberg)

Wachovia Corp, the fourth-largest US bank, said its main mortgage unit will stop offering home loans through brokers this week, joining a growing number of lenders to curb wholesale lending. "We thought it was important to focus on customers who have relationships with the bank, and in geographies where Wachovia has branches," spokesman Don Vecchiarello said. Wachovia is assessing how many jobs will be affected by the decision, Vecchiarello said. (Reuters)

The Social Security Administration unveiled a new retirement estimator on its website. A few clicks and some personal information produce benefit estimates in a few minutes. The agency will have an updated online application for benefits that Social Security administrator Michael Astrue promises will cut application time from 45 minutes to 15 minutes - and the need for follow-up visits to field offices. Currently, workers get an annual benefit estimate in the mail. It's based on prior earnings but assumes people's salary stays the same until retirement age. The online calculator supplements the mailing but won't replace it. (AP)

TiVo is trying to crack a decades-old media dream. It wants to turn the TV remote control into a tool for buying the products shown in commercials and on talk shows. TiVo will introduce a "product purchase" feature today in partnership with Amazon.com. TiVo video recorder users will see, in various onscreen menus, links to buy products like CDs, DVDs, and books guests are promoting on talk shows such as "The Oprah Winfrey Show." (New York Times News Service)